How does the Insurance Commissioner refer to an insurer formed under the laws of a different state?

The correct answer is that an insurer formed under the laws of a different state is referred to as a foreign insurer. In the context of insurance terminology, a foreign insurer is one that is licensed to operate and provide insurance coverage in a state different from the one in which it was originally established. This classification is crucial for regulatory purposes, as it helps the state's Insurance Department monitor and regulate insurers operating within their jurisdiction, regardless of where they were formed.

In contrast to the foreign insurer, a domestic insurer is one that is formed and licensed in that particular state. An exempt insurer typically refers to entities that are not required to hold a license or comply with certain regulatory obligations, which is a different framework altogether. An international insurer would involve companies operating in multiple countries rather than focusing on the relationship between states. Thus, the appropriate term for an insurer from another state is foreign insurer, highlighting its operational origin outside the state it is providing coverage in.